Billionaires
Larry Fink Is Making a New Generation of Billionaires Richer Than Him
- BlackRock’s HPS purchase will make three founders billionaires
- Asset manager also acquired GIP and Preqin earlier this year
Larry Fink
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
As Larry Fink drives BlackRock Inc. deeper into private markets, he keeps adding new billionaires to the asset-management giant’s roster — and making them all richer than he is in the process.
The latest trio: Scott Kapnick, Scot French and Mike Patterson, the founders of HPS Investment Partners. BlackRock’s $12 billion acquisition of the private-credit specialist, announced Tuesday, will give the three Goldman Sachs Group Inc. alumni a combined net worth of $8.6 billion, according to the Bloomberg Billionaires Index.